European markets trade higher; Ukraine war remains in focus
LONDON — European stocks traded higher Thursday afternoon as investors keep an eye on developments in the war between Russia and Ukraine
The pan-European Stoxx 600 index was trading 0.7% higher by mid-afternoom with most sectors in positive territory apart from basic resources, healthcare, oil and gas and utilities
Shares of Nestle were up 1% after the food group confirmed its margin and sales growth targets for 2022 while shares of engineering group ABB were up 5.5% after the company posted a big jump in orders during the engineering and technology company’s first quarter
AkzoNobel was one of the best performers on the Stoxx 600 index, with its shares up 7% after the Dutch paints and coatings maker reported stronger-than-expected quarterly core earnings as higher pricing helped offset supply chain issues, a Covid resurgence in China and the impact of Russia’s invasion of Ukraine, Reuters reported.
Signs that by second half there will be some ‘normalization’ in raw material costs: AkzoNobel CEO
The war in Ukraine remains at the forefront of market participants’ minds in Europe, with the second phase of the conflict, focusing on the Donbas region in eastern Ukraine, fully underway now
Russia has set a new ultimatum for surrender in the heavily destroyed city of Mariupol, where Ukrainian forces and reportedly hundreds of civilians are holed up in the Azovstal steel plant. Meanwhile, officials in Ukraine continue to call for more weapons support and faster delivery as Russia intensifies its bombardment of the Donbas
The Ukraine War has catalysed a tsunami of negative economic events around the global economy – and markets are remaining pretty much blind to the long-term consequences
Bill Blain
STRATEGIST AT SHARD CAPITAL
United Nations Secretary-General Antonio Guterres asked Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy if they would take meetings with him in their respective capitals
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From soaring food prices to social unrest, the fallout from the Russia-Ukraine war could be immense
From soaring food prices to social unrest, the fallout from the Russia-Ukraine war could be immense
U.S. stock futures rose in overnight trading as investors digested more quarterly reports from the likes of Tesla and United Airlines. Weekly jobless claims are also slated for release on Thursday
In Asia-Pacific markets overnight, shares were mixed as investors continue to watch China’s Covid-19 situation along with moves in the Japanese yen
Investors are watching for signs of policy support from Chinese authorities as the mainland continues to grapple with its most severe Covid wave since the initial outbreak in 2020. Its strict zero-Covid policy has raised questions about China’s economic outlook
